One Fuel Cell Company Goes Bankrupt, Another Expands

An attorney for the company sent a letter to Connecticut officials, saying the company had fallen on hard times due to a lack of business and a cash shortage. The company will close its two facilities in South Windsor, Conn.

The attorney said ClearEdge had been anticipating a significant new contract, which failed to materialize.

Meanwhile, in regard to UTC, Ballard Power Systems has acquired the transportation- and stationary-related fuel cell intellectual property (IP) assets of UTC, consisting of about 800 patents and patent applications, as well as patent licenses, invention disclosures and know-how primarily related to Proton Exchange Membrane (PEM) fuel cell technology. Ballard paid $22 million for the IP assets. In addition, Ballard and UTC have formed a strategic alliance led by a joint advisory council, which will focus on licensing and other commercial market opportunities.